Foreign Investment Promotion And Protection Agreement (FIPPA)
- Nigeria-Canada Investment Summit held successfully.
- Canadian investors request the Federal Government to address issue of FIPPA ratification.
- FIPPA key factor seeks to appropriate inflow of investments from Canada to Nigeria.
CANADIAN INVESTMENT CONSORTIUM
- Stat ratification of FIPPA still awaited.
- An MoU was signed between Consortium of NASD OTC Securities Exchange (NASD Plc), Canadian Stock Exchange members and venture capital providers with Spingfoundation Infrastructure Limited to promote investments.
Areas of Interest:
- Gold supply value chain.
- ISO certified standard geochemical laboratory services.
- One billion dollar Nigerian-Canada Solid Minerals Investment Fund, for infrastructure plant and equipment loans to valid operators in the solid minerals sector in Nigeria.
INVENTORIZATION AND ASSESSMENT
- Carried out on carbonate rock resources in the country.
- A collaboration with the Cement Technology Institute (CTI).
- Aimed at boosting the resources base of the country to support local industry and conserve foreign exchange.
- Carbonate rock found to occur in 14 States.
- Limestone’s resource base increased from2.3Billion tones to 10.6 billion tones.
- Estimated 4.8 billion tones of marble was found to occur in Nasarawa, Ondo, Edo, oyo, Kogi, Kwara, Niger, Kebbi States and the FCT.
- Magnesite noted in one location and of very small resource base of 500k tones.
- The exercise generated data on resource size and geochemical characteristics, reports and interactive map.
INVESTMENT PROMOTION AND ROADSHOWS
- Ministry’s participation in some major international mining conferences and promotions has been very regular.
- · Conferences and roadshows attendedinclude :
- Mining Indaba, South Africa
- Australia Down Under
- China Mining